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When are they going to regulate the IRS?

This year, I made a complete change from Quickfinder (which I really liked) to the Tax Book (which, we shall see). Then, when I found out there was not going to be a paper Pub 17, I ordered the J K Lasser's book (which I used for years exclusively when I started out). I also rely heavily on the US Masters Tax Guide (as the final word) which is included in the Max package. I really liked the 1040 Express Answers; but that was no longer included in the package last year. I am a person who wants paper in her hands. I don't like looking answers up online; particularly when the client is sitting on the other side of the desk. They like it when I grab a book from the floor; find the answer and show it to them. They also like it that I have more than one source of reference.

I have a client who brings ME lunch. And, I charge a lot.

Don't know if the IRS will use the same date as Fidelity for the outstanding loan/distribution of if they use the original date of the loan. But, for the distributions after separation/after 55, use 01 on Line 2, Form 5329 as the Exception to the 10% Penalty on Early Distributions. Read IRC Section 72(t)(2)(A)(v)

I like The Tax Book Deluxe Edition spiral bound (is also three-hole punched, so you can unspiral and put in a binder) for quick answers, something in plain English to read to clients, cites to go to IRC and elsewhere for further research, etc. However, their online version is actually easier to search, email, print out only the selection you want, whatever. Also for paper, J.K. Lasser's Your Income Tax Professional Edition. I'm using CCH's IntelliConnect more and more as easy to search, can get explanations &/or Code &/or Tax Court &/or.... Also, easy to search, keep a folder on my computer for topics I refer to (Partnerships or CT or...), mark my favorite sources to search, print just the selection I want, email directly to a client, access from within tax prep or while searching from Chrome, IE, Google, doing more and more with IntelliConnect as I learn more about it. Have the mobile app on my iPhone.

J.K. Lasser's Your Income Tax 2015 Ms TabbyKats, Check out this site for information and low price. http://www.barnesandnoble.com/w/jk-lassers-your-income-tax-2015-j-k-lasser/1119451369?ean=9781118922019

NECPA in Nebraska, then file the first and final 1065 with all zeroes. Avoids IRS correspondence and penalty assessments that must be responded to. Charge a fee, even a nominal one, since the client did this before consulting his tax advisor.

I know. Last season has run into this season, and big law changes and late extenders and the first year of ACA phase-in and I'm cranky already. Hubby stocked up on chocolate to throw at me. You do so much for us, Judy, that I didn't mean to be snippy to you. I think we're asking some specific questions that no one really knows how to answer, what the IRS will think. And, when they're hypothetical and I'm busy already, I'm going to direct to the instructions or an IRS cite or quote a textbook but not go into detailed calculations that I don't have time for. Our software will handle most of the common situations. The shared policy on two separate tax returns will need some manual work that has to be done by the preparer who knows his client's numbers. He's welcome to come here to see if someone will check his math, and someone probably will. But, OP does need to read the instructions and also chastise his clients for not reporting life changes to the exchange and charge for his manual work, too.

32. I don't remember getting all that money (in reply to 1099, K-1, etc)

But, I'm not ready!

True. Note also that it does not apply to CPAs, EAs, or Attorneys, although we all know that some of them are also crooks. The fact is, they already have enough power to regulate, just by controlling the EFINS and PTINS.

More lunacy. If the tax code is that difficult, then fix it, much like others have said. And as importantly, if every citizen can prepare their own taxes anyway, without being certified to do so, then it logically stands that you can do that same work for pay under the same lack of certification. After all, the taxpayer's dependency creates a natural due diligence. In fact, the due diligence is factual... the IRS still holds the taxpayer liable for the outcome of the filing, regardless of the position of the preparer. So controls on the preparer naturally exist. The concept of limited government is being lost in all of this. Shame on us if we let this happen.

Way to go !!! The abuse of the S Corp to avoid SE tax on earnings for personal services is one that needs to be clamped down on hard. The fact that some of the worst abusers have been Senators and Representatives should infuriate every honest taxpayer!

Here is an example of a "possible" sign for the office or mailings, etc.: For examples of possible "questionnaire" items, visit : http://accountants.intuit.com/affordable-care-act/index.jsp?_requestid=18303 Yes, they are somewhat of a competitor but there are some good answers to your question there.

In my client's case, the income is only from his services. He has minimal expenses and is not planning on doing this work for more than a few years. He really thought that he was going to be an S corp, because he was told that he wouldn't have pay anything but income taxes, because he could take it all as distributions. I informed him that was incorrect as long as I was preparing the returns. That's what happens when you get your tax advice from a construction guy. His wife informed him that he was going to do their returns the correct way.

He may, however, owe a penalty for under withholding, unless he makes a timely estimated payment to cover the distributions..

Pacun: You stated this: "If I recall correctly, the guy that organized HRB later sold his idea to someone and later he also built Hewitt Jackson or so. What a business concept that will stay for a long time... even after we are gone and our families have nothing to do with Tax Prep." HRB is named after the brothers H & R Blok. Who started HRB in Kansas City in 1955. One was a CPA, and they hit the big time then because of withholding and other changes in the tax code that made many more folks having to file. Notwithstanding, a lot of advertising. Hewitt, who may have worked for HRB, developed Jackson Hewitt into the second largest, and got kicked out because JH wasn't cheating enough, so he left and started Liberty Tax. The garbage rolls downhill. IF, as someone stated, you would not have anymore clients if you charged the WSJ rates? Not very likely. Unless you only have 3 clients. If you have more than 100, its time to start making adjustments to your rates, and in no way shape or form should you go DOWN. IF you are doing a lot of easy returns, then maybe you are constrained in your ability to increase fess, and that is a volume issue at that point. High Volume can equal big $, however, in many cases, we end up a particular price points when we start out and find it difficult to increase fees above that.... But you can. Rich

The Tax Book publishes hard copy in spiral bound desk reference books. Their 1040 Edition" or "1040 Edition Plus" might work for you. If you also need something for business answers, consider their "Deluxe Edition" or "Deluxe Edition Plus" have covers 1040 and more.

Gotsta do the math on that one, Jack. There will come a point in time where the tax savings from being an S-Corp will exceed the additional costs that you point out, and at that time the S-Corp becomes the better choice than Partnership.

Form 8962 Part 4 Shared Policy Allocation handles much of what you asked, plus a mid-year divorce but full-year health coverage on one policy, that kind of thing. Not only the coverage, but the pro rata part of the Advanced Premium Tax Credit will follow the child from the mother's plan to the father's tax return, for instance. And, your clients have been reminded on TV, radio, and in print to contact their exchange if a life-event happens, such as losing a dependent, change in income, etc. This isn't our fault. Charge what it's worth.

You are right. HRB advertise aggressively and the difference is that they run their shop as a real business. I on the other hand, have to beg my partner to spend 10% of our income in advertisement and she only agrees to 2%. America runs on perception and believe me... they think the rookie preparing their taxes at HRB knows more than I do. It is amazing how much the president of HRB makes without touching a 1040 form (we are talking million(s)). BUT again, they run a business and I am a love doctor or family counselor with a lot of sympathy when I listen to my client's stories. I agree, that's not a way to run a business.

33. Why do I have to pay tax on the gain of a muni fund???? They are tax free!

n) I'll just drop off my taxes on April 15th and they'll get done that day, right? n+1) {in the middle of tax season} I need you to file my last 6 years of taxes. Can you do that in a couple of hours? I've gotta get to Florida tomorrow. n+2) I need my {current year minus 8-12 years} taxes. Just pull me a copy, including all my W-2s and 1099s. n+3) I know it's a capital gain, but there must be some way you can get me out of paying taxes on it. I swear, I feel like socking these people right in the nose when they pull this crap on us.

I have windows 7 and IE 11. No problem with EFTPS. May be just lucky.

Some good comments on the article, both pro and con. And the one I tend to agree with most:

I have a client who gives me a $100 tip...specifically for my next casino trip!

I read that this morning. I was surprised that it didn't appear on the board until now. I am reserving comment as I have already jumped through all the hoops and landed on my head at least once.

I got mine on Ebay. That was the best price I found. However, we don't have a Staples and I don't have a coupon.

I think you are right. When I started, in the 70s, you got your forms and pubs free from the IRS, used carbon paper to make copies, and kept the rate tables handy at your side. A desk, chairs, a good desk lamp and calculator were all you needed besides tax knowledge!

If he withdraws from his 401(k) after separating from service and after turning 55, there is no additional 10% penalty.

The SE savings comes from profits that are NOT due to services of the shareholders, but a return of capital, work of employees, that kind of thing. If most of the income comes from services of the shareholders, then their "reasonable" salaries will be most of the profits, and there won't be much of an SE savings. I charge more for a 1120S than for a 1065 and a lot more for an 1120S than a Schedule C and even more for a 1065 than a Schedule C (gotta make the balance sheet balance, for instance). If they meant to be a partnership when they organized the LLC, then they can't tell you in 2015 that they weren't a partnership in 2014. Or, use Lynn's method. Ask them a lot of questions, preferably face-to-face, to help them tell you what tax entity they were during 2014.

Sean Brock's Elvis Presley Milkshake From Come In, We're Closed: An Invitation to Staff Meals at the World's Best Restaurants Serves 4 to 6 5 thick-cut strips of smoked bacon 2 very ripe bananas 1/2 cup smooth peanut butter 1/4 cup Buffalo Trace bourbon 3 cups vanilla ice cream, softened slightly 3 tablespoons of bacon fat, cooled In a large skillet over medium-high heat, fry the bacon until very crispy, about 6 to 8 minutes. Drain the bacon on paper towels. Reserve the rendered bacon fat separately, allowing it to cool slightly.   Place the bananas, peanut butter and bourbon in a blender. Add the cooked bacon and 3 tablespoons of the reserved bacon fat and blend until smooth, about 45 seconds, scraping down the sides if necessary. Add the ice cream and pulse to incorporate into a smooth shake, about 30 seconds. If you'd like, you can also incorporate the ice cream by hand by mixing it in with a whisk or an immersion blender; this will help keep the shake in a more frozen state. Serve immediately. Transfer any extra shake to a lidded container and reserve in the freezer. Because the alcohol prevents it from completely freezing, it turns into a scoopable ice cream.

By the way, HRB will become more robust in the years to come because competition is less. Fewer new people start preparing taxes because it is not like before. Before, all you needed was a computer and internet access (not even that if you started in the 80s as I did). In the 80s, you only needed a calculator, a pencil with eraser and a pen. Then you would go to the IRS office and pick up a bunch of pink and blue forms and start preparing a taxes. Oops, sorry... you needed two chairs and a table. These days, you need more than that and new people will have a hard time to venture on their own. So, new comers will have to go and stay a bit longer with HRB before they can open their business. With the extra ACA, new comers are a bit more nervous (even we are), so if you think HRB is becoming weaker, think again. Lets see how much money the president of HRB makes in 2015 for his own and for the company.

The EFTPS site now has a statement, that the site supports IE and Firefox. Does not mention Chrome. IE 11 has had a number of problems this year.

The price difference is not worth all the hassle.... MAX is the best deal. Unlimited everything.

So say we all. But some of us like warm fuzzies and personal kudos. It's ok if you don't like them, Jack. We don't mind. More for us.

In my ACA update class last night, the instructor showed the chart from page 2 of the Form 8965 instructions with 8 Exemptions Claimed on tax return only, 6 Granted by Marketplace only, and 4 that can be either. In addition, the Income below filing threshold Exemption needs No Code See Part II. All the Exemptions that can be Claimed on tax return (6+8=12) have the letter Codes to use listed in the chart. The 6 Granted by Marketplace note Need ECN See Part I. The instructor in another class said, "If you can't find an Exemption, you're not trying hard enough."

Yes, different states sometimes have complications ordinary citizens never give a second thought to. The average person does not need a complex will, but with NO WILL you do have a will, one written by your state legislature, usually ages ago. And who gets to make decisions about your final details, if you have not got a will, might be very surprising to you.

But there is great personal satisfaction in being a love doctor and family counselor. And chickens come home to roost eventually if you don't deliver what you promise, as we say around here.

The comments (click the tab at the top of the article) are interesting. I would also lose most of my clients if I charged like this. $279 for a 1040, Schedule A, and TN-250 won't fly around here, much less the higher fees for other schedules. Not saying HRB doesn't charge like this, but they advertise enough that there is a steady flow of people trying them out every year which makes up for the folks that leave and find the rest of us. Same story, year 21.